Capital Counsel LLC NY Trims Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

by · The Cerbat Gem

Capital Counsel LLC NY lessened its position in shares of Analog Devices, Inc. (NASDAQ:ADI – Free Report) by 0.9% during the 4th quarter, Holdings Channel reports. The firm owned 12,349 shares of the semiconductor company’s stock after selling 115 shares during the quarter. Analog Devices comprises 0.1% of Capital Counsel LLC NY’s portfolio, making the stock its 22nd largest holding. Capital Counsel LLC NY’s holdings in Analog Devices were worth $2,624,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Hopwood Financial Services Inc. acquired a new position in shares of Analog Devices in the 4th quarter valued at about $30,000. Mainstream Capital Management LLC purchased a new position in Analog Devices during the fourth quarter valued at approximately $30,000. Cassady Schiller Wealth Management LLC lifted its holdings in Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 55 shares during the period. Financial Life Planners purchased a new stake in Analog Devices in the 4th quarter worth approximately $33,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Analog Devices during the 4th quarter worth approximately $41,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Analog Devices

In other news, EVP Vivek Jain sold 12,684 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the transaction, the executive vice president now owns 43,175 shares of the company’s stock, valued at $9,066,750. This represents a 22.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total value of $2,091,200.00. Following the sale, the chief executive officer now directly owns 64,918 shares of the company’s stock, valued at $13,575,652.16. The trade was a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,809 shares of company stock worth $6,154,756 in the last ninety days. 0.33% of the stock is owned by insiders.

Analog Devices Stock Up 0.2 %

ADI stock opened at $176.27 on Friday. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average of $206.55 and a two-hundred day moving average of $214.66. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10. The company has a market cap of $87.43 billion, a price-to-earnings ratio of 56.14, a PEG ratio of 2.85 and a beta of 1.06.

Analog Devices (NASDAQ:ADI – Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.54 by $0.09. The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.73 earnings per share. As a group, analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its board has approved a stock repurchase program on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a yield of 2.25%. Analog Devices’s payout ratio is 126.11%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ADI shares. Benchmark increased their price target on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Stifel Nicolaus dropped their target price on Analog Devices from $275.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday. Citigroup cut their price target on Analog Devices from $265.00 to $235.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Oppenheimer reissued an “outperform” rating and issued a $270.00 price objective (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Finally, UBS Group boosted their price objective on Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $254.05.

Read Our Latest Stock Analysis on Analog Devices

About Analog Devices

(Free Report)

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.

See Also

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